Member Info for rivaldo

Cantor Fitzgerald today reiterate their 400p target and Buy for GMAA: Http://sleekmoney.com/gama-aviation-plc-earns-buy-rating-from-cantor-fitzgerald-europe-gmaa/229545/ "Gama Aviation PLC Earns Buy Rating from Cantor Fitzgerald Europe (GMAA) Posted on May 1, 2015 by Jamal Genner Gama Aviation PLC logoGama Aviation PLC (LON:GMAA)‘s stock had its “buy” rating reissued by analysts at Cantor Fitzgerald Europe in a research report issued to clients and investors on Friday. They currently have a GBX 400 ($6.07) price target on the stock. Cantor Fitzgerald Europe‘s price objective suggests a potential upside of 48.15% from the stock’s previous close."

"Admittedly, a tax credit inflated last year's net earnings and this will revert to a tax charge in 2015. However, using Mr Hughes' adjusted EPS estimate of 19.7¢ for fiscal 2015, or 13.3p at current exchange rates, based on a 30 per cent corporation tax rate, still means that the shares are being priced on only 10 times cash-adjusted earnings estimates. That's far too low for a company that offers potential to beat these conservative looking forecasts if market penetration rates can be expanded in China and India, and the US economy remains in fine fettle. Furthermore, the company has no financial concerns to warrant such a low rating. In fact, its balance sheet is robust with cash balances covering almost all liabilities, so Somero is not reliant on outside creditors to funds its inventories of $8.4m; neither is the business being constrained in extending credit to clients - accounts receivables were $6.6m at the end of 2014. In fact, I feel a cash-adjusted PE ratio of 12.5 for fiscal 2015 is a fairer valuation, implying a year-end price target of 185p. That's 30 per cent above the current share price which for good measure is on the cusp of signalling a major share price break-out if it takes out the 140p all-time high from June last year. A blue-sky rally to my target price of 185p would then be on the cards, and one supported by strong fundamentals. Trading on a bid-offer spread of 137p to 140p, I rate Somero's shares a strong buy."

"In addition, the company's continual investment in capital spend on new products creates another barrier for new entrants as these new products are specifically designed and built to provide maximum productivity and operational efficiency for clients, so in effect Somero already has first-mover advantage with its patented products. Potential for sustainable growth Clearly, the construction industry is cyclical, but Somero offers the attractive combination of exposure to pent-up demand in the US for residential construction post the recession - the Portland Cement Association predict that it will take another seven years at least before output peaks there - and non-residential cement consumption which has scope to surpass its 2007 peak over the next decade. Interestingly, average selling prices of Somero's products have risen as the US economy recovers in previous cycles. Indeed, in the last economic cycle they increased by 25 per cent on average for smaller line products, and by 42 per cent for larger line products. Sales in North America rose by 46 per cent from $25.5m to $37.2m last year, but there remains substantial upside for further growth in product prices based on previous cycles and for cement consumption based on the above industry forecasts. In fact, analyst Mark Hughes at research firm Broker Profile predicts that Somero's sales from North America could hit $58m by 2018. To put this into some perspective, the company's US sales were $40m at the previous peak in 2007. Mr Hughes is also forecasting that sales in China will double over the next four years to $20m. That's hardly an unrealistic forecast given that the potential market is worth $1.2bn in annual sales, of which Somero has penetration of less than 1 per cent at present. In other words, growth rates will be determined by Somero's ability to penetrate this market rather than the market growing itself. The same is true in India where the company's market penetration rate is only 0.5 per cent, according to Mr Hughes. A fairer valuation Not only are the shares attractively priced based on last year's historic numbers, but there is a realistic chance of decent profit growth coming through in the next few years as Somero's sales pick up on the back of the key drivers I have outlined above. Broker Profile predicts that for fiscal 2015, the company's revenues and pre-tax profits will both rise by around 7 per cent to $63.8m and $13.2m, respectively. Mr Hughes is pencilling in a further 10 per cent rise in revenues to $70m in 2016. These estimates look well underpinned and so do expectations of a further hike in the dividend to 6¢ a share this year, or 4.1p at current exchange rates, implying a near 3 per cent prospective dividend yield. It could be more because analysts predict Somero's net funds will double to $14m by the end of this year, a sum equivalent to 17p a share."

"Expect these themes to continue to help Somero raise its market penetration in a country that clearly offers huge growth potential: cement consumption is around 30 times greater in China than in North America. Chinese customers also now have access to finance options when they purchase Somero's equipment which can only help sales. It's also worth noting that the company sells to concrete contractors for non-residential construction projects in over 92 countries and across every time zone around the globe. Last year, Somero reported growth in seven of the 10 geographic regions it services and that even included Europe where sales rose by a fifth to $3.6m, or 6 per cent of the total. Its Laser Screed® equipment is primarily used in the construction of warehouses, assembly plants, shopping centres, and other commercial construction projects that require extremely flat concrete-slab floors. The client base includes multinational companies such as Costco, Home Depot, B&Q, DaimlerChrysler, the United States Postal Service, and Toys 'R' Us. The company's assembly operations are based in Michigan, US, and sales and services offices are located in Chesterfield, England; Shanghai, China; and New Delhi, India. Cement consumption in India is three times greater than in North America, so to raise awareness within the industry, Somero has stepped up marketing efforts as well as attending trade shows and giving seminars for engineers and architects. Revenue from the Indian market was $600,000 last year, or 1 per cent of the company's total turnover, but this is from a standing start and the market clearly has huge potential. Patented technology It may seem hard to believe, but as the leading manufacturer of laser guided machinery used in horizontal concrete surfaces Somero's patented technology has a near 100 per cent market share. Protected by 56 patents, the company's products achieve a high level of precision in concrete surface flatness at a higher rate of efficiency than conventional methods. It's cost effective too as it results in the highest level of flat-floor precision attainable at less cost to the flooring contractor. The company's vision is for its technology and processes to be used wherever a ready-mix vehicle is discharging concrete for a concrete slab. Maintaining customer services at the highest level, and offering 24/7 aftersales support, are key to protecting this dominant market position, which explains why Somero's workforce increased from 128 to 165 last year to support the anticipated ramp up in sales. Moreover, this solid infrastructure creates an obvious barrier to entry for new competitors. That's because it would be difficult for a new entrant to replicate Somero's product offering and break into its market by using a lower product price to grab market share as it would also need to invest considerable sums in creating a similar service operation."

"It was hard not to be impressed by the fiscal 2014 results from Aim-traded Somero Enterprises (SOM: 140p), a Florida-headquartered company with a market value of £79m that specialises in the design, assembly, and sale of patented, laser-guided equipment that automates the process of spreading and levelling concrete on commercial floors. Having set its stall out last year to double turnover to $90m (£60.8m) by 2018, the company increased revenues by nearly a third to $59.3m in 2014, all of which was organic growth, and with gross margins ticking up a couple of percentage points to 54 per cent, and operating costs rising by only 13 per cent, this resulted in a 91 per cent surge in pre-tax profits to $12.4m and a 123 per cent rise in adjusted EPS to 29¢, or 19.5p at current exchange rates. Moreover, with the benefit of a capital-light business model, a high proportion of cash profits of $15m, up two-thirds in the 12-month period, was converted into operating cash flow, so much so that net funds almost doubled to $6.6m, or the equivalent of 8p a share. In turn, this enabled the board to reward shareholders with a 150 per cent hike in the dividend per share to 5.5¢, or 3.7p. The final dividend of 4¢ (2.7p) went ex-dividend this morning. On this basis, the shares offer a 2.7 per cent historic yield, and are rated on a lowly seven times 2014 post-tax earnings. A solid growth story Furthermore, it's only reasonable to expect this progress to continue in the years ahead. That's because the company has a strong presence in the all-important North American market - sales in the region increased by almost half last year to account for 63 per cent of the total on the back of robust growth in the construction industry. In fact, non-residential cement consumption exceeded the industry's original forecast of 22 per cent growth in 2014 to end up 30 per cent ahead of 2013. This positive industry backdrop, the introduction of new products - the company spends 2 per cent of its annual revenues on product development with the aim of launching one new product a year - Somero's pricing power, and a shortage of skilled labour for its customers all contributed to the jump in North American sales. The company has also been benefiting from an increasing presence in China, where sales rose by 44 per cent to $9.5m to account for 16 per cent of Somero's revenues in 2014. This performance was driven by a greater penetration rate in all regions and the broader awareness of US floor flatness standards being issued by the China Flooring Association. The evolution of the Chinese economy towards more logistics, big box retailing, and e-commerce is playing its part too as these trends are boosting demand for the speed and flatness provided by Somero equipment in laying concrete. In addition, higher wage rates are leading to greater automation in this process which increases the value of Somero's equipment."

http://www.bradyplc.com/news/global/scandem-selects-brady-software-for-energy-trading-and-risk-management Another good contract win - and being the winning of more work from an existing client a great testament to BRY's abilities and reputation. With £10m in cash to play with I'm expecting new acquisitions soon since it's been over 2 years since the last one.

News indicative of SOM's confidence going forward.... Http://www.somero.com/news/226-somero-enterprises%C2%AE-has-announced-the-expansion-of-its-assembly-plant-building-of-a-new-global-headquarters "Somero Enterprises® has announced the expansion of its Assembly Plant & Building of a New Global Headquarters Somero Enterprises Inc.® has announced two significant projects this week. The first is adding a 20,000 sq. ft. expansion to its already 52,000 sq. ft. assembly plant in Houghton, MI. The expansion broke ground this week and is the result of providing our customers with benefits that is expected from Somero such as: •Increased Efficiency •Enhanced Product Flow •Larger Testing Area •Enhanced Customer Experience. The project is expected to be completed in October of this year. etc"

Good to see that finally people are cottoning on to the growth in the core business - and the potential of CDS - now that CIT is out of the way. A couple of additional extracts from the article: "Bull points •CIT issues behind it •Strong positions in specialist growth markets •Blue-chip customer base •Diagnostic business could create significant value Bear points •Sentiment damage from CIT exit" "IC VIEW: A price of 13 times next year's earnings looks low considering Carclo's growth prospects, and that's before taking into account the potential from the fledgling diagnostics venture. Buy."

I sold this morning in tranches straight after the bell. Bit of a wrench after all this time.... I was surprised at the extent and effect of the prior year one-off contracts, and the lower H1 profits will not look good and will put FSJ on a pretty high rating. The share price could drift back to 1000p (or lower if the oil price environment continues to be weak), so best to protect quite large profits after what's been a great run. I'm sure I'll be back in at some stage as FSJ will bounce back, but that may not happen for another 8-9 months. Good luck all.

Well, you can't get much more encouraging than that - excellent stuff: Http://www.investegate.co.uk/alkane-energy-plc--alk-/rns/agm-statement-and-trading-update/201504300700217750L/ "The Board of Alkane Energy plc, the independent gas to power producer, will make the following statement on current trading at the Group's Annual General Meeting to be held at 11.00am today. The encouraging step change in performance we saw during H2 2014 has continued into the start of 2015. Overall output in the first three months of 2015 has increased by 26% to over 60GWh (2014: 48GWh). Alkane's strategic move into power response accelerated with the four sites acquired last year and we are therefore benefiting from increased winter and availability payments. Consequently the increased output and system payments have resulted in a 43% revenue increase in the core generation business during the first three months of the year in comparison to 2014. Market selling prices for base load output have seen downward pressure since the final quarter of 2014. Nevertheless we continue to forward contract in the market and the Group now has 86% of expected 2015 base load output contracted at £52/MWh, 45% of expected 2016 output contracted at £50/MWh and 6% of expected 2017 output contracted at £50/MWh. Neil O'Brien, Chief Executive Officer, commented: ''The strategic investments made in 2014 have provided the strong momentum we have experienced in the first three months of 2015. As a result we are confident of making further progress in the current year.''"

Adjusted EPS of 9.02p beat expectations, and the 3.5p dividend is bang in line: Http://www.investegate.co.uk/harvey-nash-group--hvn-/rns/final-results/201504300700217753L/ HVN have £2.1m net cash, and the core performance is much better than the figures suggest given the adverse urrency movements. And the outlook statement is extremely positive, with an "encouraging start" to this year, and "the Board believes the outturn for the year will be in line with its expectations". The share price should be 100p at minimum, and really should be much higher than that imo for such a respected, high profile and consistent brand.

News of a new content streaming partnership in Canada for ETO's films and TV - global content and monetisation is king.... Http://www.newswire.ca/en/story/1526277/shomi-movies-for-any-mood-shomi-and-entertainment-one-announce-content-deal-for-more-than-175-films "shomi Movies for Any Mood: shomi and Entertainment One Announce Content Deal for More Than 175 Films – Must-watch (and re-watch) movies including Moonrise Kingdom, Zero Dark Thirty, Coraline, and Pulp Fiction available to stream on shomi beginning in May – – Includes exclusive Canadian streaming rights of Emmy-nominated series Web Therapy – TORONTO, April 28, 2015 /CNW/ - A spy, a gnome, and a pair of head bangers meet at the end of the world… wait, that's not right. A comedian, a solider, and a hit man survive a plane crash… or is it that they crash a wedding? Either way they'll all be hanging out on shomi™ soon thanks to a new deal with Entertainment One (eOne). Beginning in May, shomi will add more than 175 movies including the drama Tinker Tailor Solider Spy, family favourite Gnomeo & Juliet, Canadian cult-comedy Fubar, and the romance Seeking a Friend for the End of the World. Comedy, drama, action, sci-fi, romance, kids, and stand-up – shomi's got something from eOne for any streaming mood this summer. etc"

Sanlam Securities today reiterate their Buy and 165p target for CRE, which must have been increased from 150p at some point recently: Http://www.wkrb13.com/markets/571011/creston-plcs-buy-rating-reaffirmed-at-sanlam-securities-cre/

Looks like FSJ have just acquired a bargain from the administrators.... Http://aberdeenbusinessnews.co.uk/energy-news/item/5844-james-fisher-offshore-buys-specialist-subsea-services-limited-assets "James Fisher Offshore buys Specialist Subsea Services Limited assets The assets and intellectual property of ROV and offshore survey company Specialist Subsea Services Limited have been sold to James Fisher Offshore. Blair Nimmo and Geoff Jacobs of KPMG LLP were appointed as Joint Administrators of Specialist Subsea Services Limited on 25 February 2015. The Company’s key assets were five ROV’s and a significant amount of subsea survey equipment. Immediately following the appointment, the administrators implemented an accelerated marketing process for the business and assets. Following the closing date for offers, James Fisher Offshore Limited was awarded preferred bidder status for the Company’s assets on 20 March 2015. Certain assets were situated in various locations across Europe. This additional complexity necessitated significant time and effort to be invested by all parties involved to achieve the optimum transaction structure. Following the period of exclusivity, the Company’s assets and intellectual property only were sold to James Fisher Offshore Limited on 17 April 2015. Blair Nimmo, joint administrator and head of restructuring for KPMG in Scotland, said: “We would like to thank everyone involved for their significant efforts in helping to deliver this outcome. We are very pleased to have concluded the sale of these assets to James Fisher Offshore which will provide the best outcome for the Company’s creditors and may also generate the opportunity for future employment. We wish James Fisher Offshore every success for the future.”"

For reference, here's the newly acquired How Splendid's web site - the client list is fantastic, including per the RNS "Barclaycard, Boots, eBay, Gamesys, News UK, Skrill, SSE and Star Alliance", but also the BBC, Aston Martin, Wired, Intel, Microsoft, Easyjet etc.... Http://www.howsplendid.com/about-us/

GMAA say demand is soaring in the Asia-Pacific region: Http://business.asiaone.com/news/demand-private-jets-soaring-asia-pacific "Demand for private jets soaring in Asia-Pacific Phyllis Ho The Straits Times Monday, Apr 27, 2015 Flying private jets to chase deals is taking off in the Asia-Pacific, with new data showing that 713 business aircraft have been delivered to the region over the past five years. "Our sector reflects the mood and confidence in the economy," said Mr Marwan Khalek, who is chief executive of aviation services company Gama Aviation. Based on market research by business jet data compiler JetNet, the number of Asia-Pacific private aircraft used for business purposes in 2010-14 was 42 per cent higher than that in 2005-09. As of last month, the region boasted 2,552 such planes. Little wonder that the Asian Business Aviation Conference and Exhibition (Abace), held in Shanghai last week, saw a record 183 exhibitors. Its first edition, held in 2006, drew only 30. While Western countries might be more accustomed to business aviation, Abace demonstrated that Asia is catching up as both a consumer and a provider. Around 40 per cent of the event's exhibitors were based in the region - the highest proportion of Asian exhibitors to date, according to a statement by Abace released on April 17. On the local front, Singapore has witnessed a 40 per cent jump in business aircraft deliveries - though off a fairly small base - from 15 in 2005-09 to 21 in 2010-14. Singapore's airports appear to be taking steps to cater to future demand. In November last year, Seletar Airport announced plans to rebuild and expand its operations, to cater to increased air traffic. To Mr Khalek, private planes are not just an alternative means of getting around, but also "productivity tools" for deal-chasers out there. He said: "Business aviation does not compete with regular airlines - it complements them." Clients can enjoy privacy and security of information along with greater convenience, he added. Gama currently manages 148 aircraft. Revenue for the year is projected at US$320 million (S$431 million). Mr Khalek said Gama's chartering clients include very small firms and wealthy individuals, as well as multinational corporations. Some fly only twice or thrice a year, while more frequent jet-setters take to the skies weekly. To meet growing demand in Asia, the British-based firm recently extended its aircraft management service to Hong Kong, following a joint venture with Hutchison Whampoa (China), a subsidiary of Hong Kong conglomerate Hutchison Whampoa."

Revenues in line, margins up and debt falling ahead of expectations. Forecasts per Hemscott from Finncap are: Historic : 7.4p EPS, 1.3p dividend Current year : 8.1p EPS, 1.4p dividend Finncap have a 113p price target. HAYT should make good progress towards that from here after this update, especially with this comment today: "The Board remains confident in the short to medium term prospects for the business"

Edison's forecast of 14.1p EPS this year - with a 4.5p dividend - is the highest of the newly increased forecasts, whilst three others from Singer, Peel Hunt and Sanlam all go for between 13p and 13.2p EPS. CRE remains very cheap imo on a single-figure P/E even on the lowest forecast.

Http://wesa.fm/post/advanced-manufacturing-leads-economic-growth-pittsburgh-region "“We’re within a day’s drive or 500 miles from 40 percent of the U.S. population, 60 percent of Canada’s population, and six of the ten largest markets in the U.S,” said Todd Pierce, COO of Carclo Technical Plastics, which is based out of London and has two facilities in Latrobe and one in Export, Pa. He said his company recently added 60,000 square feet to one of their Latrobe facilities and went from 130 to 200 employees in Western Pennsylvania over the past year. By the end of 2015, he said they expect to have 240 employees in the region."

Great to see Hargreave Hale buying heavily here - they're now over 5% with 10.7m shares per today's RNS: http://www.investegate.co.uk/xlmedia-plc--xlm-/rns/holding-s--in-company/201504270903223849L/ Per XLM investor relations, they previously only had 5,957,500 shares, so they've added around another 4.8m shares..... http://www.xlmedia.com/significant-shareholders/